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MasTec Announces Offering Of Senior Notes









CORAL GABLES, Fla., March 1, 2013 /PRNewswire/ -- MasTec, Inc. (NYSE: MTZ) today announced that it will offer $350,000,000 aggregate principal amount of senior notes in a registered public offering. 

The senior notes will be MasTec's senior unsecured unsubordinated obligations and will rank equally in right of payment with any existing and future unsubordinated debt, and senior in right of payment to any existing and future subordinated debt.  The senior notes will be effectively junior to MasTec's secured debt, including MasTec's existing credit facility, to the extent of the value of the assets securing that debt.  The senior notes will be guaranteed on an unsecured unsubordinated basis by MasTec's domestic subsidiaries that guarantee MasTec's existing credit facility.

MasTec intends to use a portion of the net proceeds from the senior notes offering to fund the repurchase of MasTec's $150 million aggregate principal amount of 7.625% senior notes due 2017 pursuant to MasTec's separately announced concurrent tender offer and consent solicitation, to fund the redemption of any such notes not tendered in the tender offer and to repay the outstanding balance under MasTec's existing credit facility.  MasTec expects to use the remaining net proceeds for working capital and other general corporate purposes.  Pending such usage, MasTec expects to invest the proceeds in short term instruments.

The closing of the senior notes offering is subject to customary conditions but is not contingent on the successful completion of the tender offer. 

Barclays, Morgan Stanley and SunTrust Robinson Humphrey are acting as joint book-running managers of the offering. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the senior notes, nor shall there be any sale of the senior notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. A shelf registration statement relating to these securities has been filed with the Securities and Exchange Commission and is effective. A written preliminary prospectus and accompanying base prospectus for this offering describing the terms of the offering and meeting the requirements of Section 10 of the Securities Act of 1933 (other than a free writing prospectus as defined in Securities Act Rule 405) will be filed with the Securities and Exchange Commission and when available may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov or by contacting Barclays, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, by calling toll free at (888) 603-5847, or by emailing Barclaysprospectus@broadridge.com, Morgan Stanley at 180 Varick Street, Second Floor, New York, New York 10014, Attention: Prospectus Department or by email at prospectus@morganstanley.com, and SunTrust Robinson Humphrey at 3333 Peachtree Road, Tenth Floor, Atlanta, Georgia 30326, Attention: High Yield Syndicate or by calling (404) 439-7554.



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